Haringey is one of the least affordable places in England and Wales when it comes to buying a house, according to a new study.

Analysis by consumer group Which? shows properties in the borough cost almost 17 times the average annual wage, as more and more people are priced out of buying a home.

Workers in Haringey earn £31,428 a year on average, while the average house price in the borough is a whopping £528,000, according to the group’s analysis of government data.

The top ten least affordable areas are all in London and the south-east, with Kensington and Chelsea – where homes cost more than 40 times average salaries – topping the list.

In contrast, areas in the north-west of England and the south of Wales are the most affordable.

The Haringey figures likely reflect the divide between the more prosperous west of the borough, where wages and house prices are higher, and the more deprived eastern wards.

Affordable housing is a key priority for the new council after plans to ditch the controversial Haringey Development Vehicle were revealed in the Labour group’s local election manifesto.

Labour plans to use a wholly council-owned company to build 1,000 council homes by 2022 after concerns were raised that the HDV would not provide enough affordable homes.

A report presented to the council’s Overview and Scrutiny Committee in March stated that a wholly-owned company was a viable option and would allow the council to avoid borrowing caps.

The report also recommended setting an affordable housing target at 50 per cent – higher than the HDV’s current target of 40 per cent – and allowing only a limited amount to be sold at 80 per cent of market rent.

Joseph Ejiofor, who was elected new Labour leader on Tuesday and is almost certain to be the next council leader, pledged to “create the social housing, safer communities and opportunities for residents that we desperately need”.

A Haringey Council spokesperson said: “We are committed to doing all we can to tackle Haringey’s housing crisis and offer more local people access to affordable homes.

"In the past four years, 50 percent of all new homes built in Haringey were affordable, including some 100 percent affordable developments, and last year saw us building Haringey’s first new council homes in a generation.

“We are determined to go even further, including exploring all options for accelerating the pace of council home building, and pressing developers to ensure that genuinely affordable homes are at the heart of new developments across the borough.”